Liquid Telecom, a Mauritius-based internet protocol services unit of South African telecommunications company Econet Wireless, is nearing to secure 2.6 billion South African rands ($181.9 million) from UK-based investment firm CDC Group.
Liquid Telecom will use the funds for expansion purposes especially its high-speed broadband connectivity to some of the most underserved communities across Africa.
The company noted that the investment will significantly enhance economic and social benefits, support national economies, create new jobs and drive adoption of new technologies.
With the money raised, Liquid Telecom will further extend its products on the continent and support Africa's technology startup ecosystem.